KURA ONCOLOGY, INC. (NASDAQ:KURA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 20, 2018, Kura Oncology, Inc. (the "Company") announced that John Farnam will be joining the Company as Chief Operating Officer on July 1, 2018.
Mr. Farnam has served as Vice President of Business Operations at Celgene Receptos since September 2015, where his responsibilities include clinical operations, quality assurance, finance, facilities and professional leadership development. Previously, Mr. Farnam served for 26 years as an officer in the Marine Corps, serving as an FA-18D Squadron Commanding Officer and as the Commanding Officer of Marine Corps Air Station Miramar, where he oversaw operations of the installation and its 2,500 personnel. He retired from the Marine Corps as a Colonel in 2015. Mr. Farnam earned his bachelor’s degree in criminal justice at San Diego State University and his master’s degree in national strategy from the National War College.
In connection with his appointment as Chief Operating Officer, the Company entered into an Executive Employment Agreement with Mr. Farnam to be effective July 1, 2018 (the "Employment Agreement"). to the terms of the Employment Agreement, Mr. Farnam will receive an annual base salary of $355,000 and an annual target bonus equal to 40% of his base salary.
Additionally, the Employment Agreement provides that if Mr. Farnam’s employment is terminated by the Company without "Cause," (as defined), or by Mr. Farnam for "Good Reason" (as defined), then he shall be entitled to receive a lump-sum payment equal to his annual base salary then in effect, less required deductions and withholdings, and payment of COBRA group health insurance premiums for up to 12 months. In the event Mr. Farnam’s employment is terminated by the Company without Cause, or if he resigns for Good Reason within 59 days before, or within twelve months following, a Change in Control (as defined) of the Company, then, in addition to the above benefits, Mr. Farnam shall be entitled to receive: (i) a lump-sum payment equal to his full target bonus for services to be performed during the year in which the corporate transaction occurs, less required deductions and withholdings; and (ii) accelerated vesting of 50% of any outstanding and unvested stock awards held by Mr. Farnam at such time.
Mr. Farnam has no family relationships with any of the Company’s directors or executive officers, and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
Item 8.01 Other Events.
On June 20, 2018, the Company issued a press release announcing Mr. Farnam’s appointment as Chief Operating Officer. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
Description |
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99.1 |
Press release dated June 20, 2018 |
Kura Oncology, Inc. ExhibitEX-99.1 2 kura-ex991_14.htm EX-99.1 kura-ex991_14.htm Exhibit 99.1 Kura Oncology Appoints Chief Operating Officer,…To view the full exhibit click here
About KURA ONCOLOGY, INC. (NASDAQ:KURA)
Kura Oncology, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in discovering and developing personalized therapeutics for the treatment of solid tumors and blood cancers. Its segment is engaged in the discovery and development of personalized therapeutics for the treatment of solid tumors and blood cancers. It focuses on the development of small molecule product candidates that targets cell-signaling pathways, which drives the progression of certain cancers. It is developing its lead product candidate, tipifarnib, which is a farnesyl transferase inhibitor, in both solid tumors and blood cancers. It is advancing KO-947, a small molecule inhibitor of extracellular-signal-regulated kinase (ERK), as a treatment for patients with tumors that have mutations in or other dysregulation of the mitogen-activated protein kinase (MAPK), signaling pathway, including pancreatic cancer, colorectal cancer, non-small cell lung cancer (NSCLC) and melanoma.